Ethereum (ETH) continued its bull run and reclaimed the $2,000 level late on Friday night for the first time since May, according to data from CoinMarketCap.
The No. 2 cryptocurrency by market cap was up to $2,014 at the time of writing, up 7% in the past 24 hours and 17% in the past week. It has nearly doubled in the past month.
More than $152 million in Ethereum short bets has been liquidated over the past 24 hours, according to data from Coinglass. жана 13.2 million ETH has been staked on Ethereum 2.0, a new all-time high for the metric, according to data from Маяктар.
What’s pumping ETH?
It’s all about the merge.
Ушул жуманын башында Goerli testnet completed its transition to a далил-жылдын устунга mining mechanism, the final dress rehearsal (after successful testnet merges on Sepolia and Ropsten) before the mainnet merge that is now expected on September 15 or 16.
Testnets are a developmental version of Ethereum that allows developers to experiment before launch.
The Ethereum mainnet’s shift from an energy-intensive proof-of-work (PoW) mechanism to a proof-of-stake (PoS) consensus algorithm should enhance overall network efficiency and reduce energy consumption by up to 99%.
The upgrade is also expected to lower Ethereum’s sky-high transactional costs, though there are some who doubt that the post-merge Ethereum will look quite as idyllic as some of the network’s core devs have promised.
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Source: https://decrypt.co/107390/ethereum-tops-2000-as-network-approaches-merge-event